Map to SAC

Why SAC?

Q
http://www.100womeninhedgefunds.org/100WHF0704_final.pdf

Bruce Yablon, Principal, Renaissance Technologies Corp.
Bruce Yablon is a principal at Renaissance Technologies Corp., where he has been employed since 1998.
Renaissance is general partner of the Medallion Fund, a hedge fund dedicated to mathematical trading of the markets.
Mr. Yablon is currently responsible for managing Renaissance’s relationships with Wall Street and has worked
extensively allocating capital to outside hedge fund managers. Prior to Renaissance, he directed marketing and
investor relations at Fibonacci Associates, a mortgage backed securities hedge fund, from 1996 to 1998. Mr. Yablon
spent the majority of his career, from 1987 to 1996, at Bear Stearns as a mortgage backed securities salesman in the
Fixed Income division where he was a Senior Managing Director. Mr. Yablon began his career at Marine Midland Bank
as a commercial lending officer.
Mr. Yablon holds an M.B.A. from Harvard Business School and a B.A. in psychology from Princeton University.
UQ

 

I wouldn't invest in a hedge fund or a mutual fund.I trade fine on my own and make better returns.I just made 36% on BOT in 2 weeks.I don't see any funds doing that.

 

That was a great trade...but there is a difference between making a great trade....and being a great trader.

 

I have the definative answer to your question. Many years ago in my earlier years when I had been a trader for a while but had never traded equities, I asked Steve Cohen himself how I could get a job at his Fund. His answer was that I should get a job at Shoenfeld or First New York and build my skills and a track record. I never did that but took a different path. I'm doing fine. Anyway, I don't think you can get a better answer than one from the man himself.

 

I am sure that SAC is not letting anyone who prop trades at a daytrading prop shop join them

perhaps the top 1-2 % who show a track record of
making milliions ... like that shoney gent who went to start his own HF ... now maybe thats someone who SAC would hire

 

100% agree.

 

Thanks for all the feedbacks. I still have a follow up question on the heads of the desks at IBs. I assume that these people are part of the Sales and Trading division of IB. They would generally take the other sides of the customers and their goal is to stay positive or flat. Are their skills and disciplines readily applicable to the hedge funds, or are they more useful to the prop trading arms of IBs?

 

I have the definative answer to your question. Many years ago in my earlier years when I had been a trader for a while but had never traded equities, I asked Steve Cohen himself how I could get a job at his Fund. His answer was that I should get a job at Shoenfeld or First New York and build my skills and a track record. I never did that but took a different path. I'm doing fine. Anyway, I don't think you can get a better answer than one from the man himself.


Thanks a lot. First New York is just like a reputable prop shop right? What about Shoenfeld? May you give me a pointer or two from your own experience?

 

Yes, they are part of sales and trading. These days their job is to stay as close to even PnL as possible, mostly always on the losing side. No, this experience is generally not seen as a path to the prop side of an IB

 

My mentor was the top trader at WorldCo before it imploded. I don't think SAC would care to hire him either, but I can see how he can come up with an another strategy that will work under different market situations.